Virgin Australia CEO Paul Scurrah to step down when Bain deal completed

(Reuters) – Virgin Australia Holdings Ltd Chief Executive Paul Scurrah will step down within weeks once the airline’s sale to U.S. private equity group Bain Capital is completed, the airline’s administrator said on Thursday.

Jayne Hrdlicka, a former head of the Jetstar budget offshoot of Qantas Airways Ltd, will take over the top job at Australia’s second-biggest airline at the financial close of the deal, expected in early November.

Scurrah had clashed with Bain about the strategy and wanted to maintain a more premium offering than desired by the U.S. private equity firm, two people with knowledge of the matter told Reuters on condition of anonymity.